PIPS Update: Marsdens face more charges (pics inside)
September 22, 2006
Here's an update to the continuing saga of Bryan Marsden and the failed People in Profit Systems (PIPS) program.
Marsdens face more charges
A couple who claimed trial to at least 41 counts of money laundering have been slapped with more similar charges
British national Bryan John Marsden, 58, and his Malaysian wife Phan Sew Ken, 50, were accused of a further seven counts of money laundering at the Session Court here yesterday.
They allegedly received money that were proceeds of unlawful activities between Jan 4 and June 14 last year.
The transactions, amounting to US$3,100,799.33 (RM11.45mil), were said to have been done through their company Pic Pay Dot Com Sdn Bhd's account with EON Bank Group in Nilai, Negri Sembilan.
Marsden was charged with committing two more counts of the offence involving RM106,000 through his personal account with the same bank on Jan 28 and Feb 20, 2004.
The couple were charged separately under the Anti-Money Laundering Act before Sessions Court judge Allaudeen Ismail.
The couple claimed trial to all charges.
To date, Marsden has claimed trial to a total 57 charges involving nearly RM46mil while Phan has 48 charges against her involving more than RM38mil.
This is the country’s first online money laundering case investigated by Bank Negara.
Deputy Public Prosecutor Muhammad Saifuddin Hashim Musaimi proposed that bail be set at RM500,000 with two Malaysian sureties for each of them.
However, their lawyers appealed for a lower amount.
Justice Allaudeen Ismail demanded for a written application to be submitted to the court and fixed Oct 10 for mention.
On Aug 30, the couple were charged with 41 counts of money laundering, involving more than RM26mil, at a Sessions Court here.
Later that day, Marsden was slapped with an additional seven charges involving RM7.5mil at a Kuala Lumpur Sessions Court.